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Biofrontera: Doubts about the goals

Biofrontera has issued a convertible bond that brought 7.9 million euros into the cash register. With the fresh money you want to expand business activities. Traditionally, business in the USA increases in the fall. There may also be catch-up effects due to the pandemic.

For the current year Biofrontera expects sales of 34 million euros to 38 million euros. The fourth quarter is particularly important if this goal is to be achieved. The analysts at SMC Research consider sales of EUR 31.6 million to be realistic. They also expect a loss per share of 0.30 euros. In the coming year, sales are expected to increase to 39.3 million euros. The loss per share should again be 0.30 euros.

As before, the analysts have issued a hold recommendation for Biofrontera shares. The price target increases from 5.30 euros to 5.80 euros.

A higher rating is possible if there is a clear recovery in business momentum. Achieving the annual targets would lead to a rethink.

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